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tv   After the Bell  FOX Business  February 27, 2014 4:00pm-5:01pm EST

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[closing bell ringing] barnes & noble, don't forget they had a takeover offer and had better numbers. liz: it is a record for the s&p, a record close! we were above 184intraday many times. couldn't quite make it stick. the new number well above 184, david. -- 1848. david: not bad at all. "after the bell" starts right now. time to break down all of today's history-making market action. we have larry rosenthal, rosenthal wealth management the best criteria for picking winning stocks. darren sringa will tell us why he thinks the u.s. energy industry is global game-changer. of the chris gersch joining us from the pits of the cme. chris, 1850 on the s&p was one of these levels, 1848 if you are
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precise was the actual record to be broken but is 1850 all that important, breaking through that number? >> it is, david. 1850 is such a technical level that these traders right behind me are looking at. we hit that three types in january. made a triple top and pulled down to the 1750 level. the fact we're closing above that level is a huge bullish sign for these traders. liz: that is terrific news. we like to see that. larry, looking at things from a wealth management standpoint is number meaningful to you or have you been in this whole time and do you continue to be into stocks? >> we've been fully invested, liz, for quite some time, now of the we like equities. we like the market going forward. when you break through the triple top, now this turns around and becomes the support level going forward, especially looking at backdrop of monetary policy. let me finish up on that. so what you're saying that the skies are clear? you have clear monetary policy. you have a budget deal and less
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bickering in washington for the moment and you have a market looking forward, not backwards? >> well, yes. what i like about his right now for the first time since basically bate we've seen the fed start to implement a little bit of pullback and now all eyes are on the real economy and this market is still trudging along forward. so we're looking for organic growth and looks to be good so far. david: darren, look no further, if you're looking for organic made growth look at the energy market. we have an energy revolution. we talked quite a bit about it on many fronts. of course a lot of it has to do with fracking but how big of a factor is the energy revolution looking forward as we're looking at this market and where to go? >> i think energy stocks, regardless what happens fundamentally, monetary policy, fiscal policy, the energy revolution is real. i think long-term we're going to see, is low energy prices will be a stimulus to global gdp. more importantly, they're just
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insulated from macroeconomic cycles, commodity cycles. david: darren, let me push back for a second. despite the fact it is amazing, we're a net exporter of energy when you add in bass and oil. still people haven't seen it yet at the pumps. when will it have a direct effect on amount of money, people and particularly companies have to put out for energy costs? >> i think you've seen it in heating prices in winter around natural gas prices and propane prices t had a spillover effect, consumer heating oil prices, natural gas prices, did not spike like they would have been in the past given have had. liz: we have gap numbers. ashley has them. >> we're going through them, liz and david. on epss estimate was for 66 cents. it is coming in at 68 cents. so we have a beat on the bottom line. revenue estimates were 4.6 billion. coming in at 4.58 billion. or thereabouts. and as we know retailers have
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been hurt alot because of bad weather, low consumer confidence and very slow foot traffic in the malls. overall not bad on gap. what we're waiting to see same-store sales, inventory levelses those things that speak about guidance through the rest of this year. 2-cent beat on eps and just a slight miss on revenue. david: all right. coming by the way on a day when we saw jcpenney jumping up 25%. chris, there was so much concern about the fact nobody is going shopping because of the weather, that all these stores would do terribly. they haven't done that bad. >> they really haven't and i expect the gap to miss by a lot more. the fact that they beat eps by two is fantastic. if you have retail, getting through this chicago winter, i know new york, philadelphia, you're feeling same thing we are here, the fact is, people are staying inside. if these retail figures hold up, really think a bullish sign. liz: chris, gap is saying
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weakened foreign currencies may hurt its earnings in the current quarter and current year even as though announce they will open their first old navy store in china. this foreign currency issue is certainly something we can into the ignore for a lot of these companies, right? >> you know what, liz? you hit it right on the head of the fact is the dollar had a war against the yen last year. you're seeing the euro pull back a little bit, the yuan. at that i think is, dollar for this market, individual like myself, if the dollar continues to gain strength all these markets with exposure outside of the country, all these retail, i think that is going to lead into some sort of a pullback in the second quarter. with the dollar strengthening. david: brick-and-mortar to more exotic stocks. let's talk about netflix and tesla, two stocks that have been stratospheric in reaching for heights and they're still going up. there are some people are doubters. bank of america merrill lynch
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had a $68 price target on tesla which is very, very low. they're the outlyers. are you a believer if these new stocks that represent not only new businesses but new economic models when you look what tesla and netflix are trying to do? >> i like the cutting-edge of new technology and of new business frontiers and things like that but i think tesla's stock price is well above where it needs to be right now. so i would play a lot of caution with that price as far as that goes. netflix, you know, again, stellar stock performance. delivering the way, changing the way consent is delivered right to homes and businesses. david: right. >> that is much more of a realistic type of a model as far as that goes but i caution -- david: you think netflix may actually change the way, maybe perhaps pulling away from traditional cable tv and turning tv into more of an internet phenomenon? >> i think it has the opportunity to do that if it keeps on penetrating market share the way it is doing especially with all homes in the
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u.s. liz: larry, your pick of dow chemical, this stock is on a tear. it hit a new high here for the year just today at $48 and change. this is a company that is trying to be just what you talked about and that is, go really kind of more modern these days. we got out of andrew liveris, ceo, he may drop the name chemical from dow because they're all going into all kinds of consumer businesses. is that the future for them? issthat why you like them? >> very much so, again leading the way into different marketplaces is very nice but one of the biggest things about them i find very attractive at these prices, liz, their main cost component is natural gas. with increases natural gas production, they will widen margins and lower costs to deliver their products on a i like them a lot. their earnings yield is higher than estimated gdp in the u.s. and blue-chip stock and very
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attractive here. david: darren, one of the main things i like what is happening with the markets these days, this is the first earnings season since the tapering began, really the first pullback you will of the fed, even though they're just limiting their purchases but first pullback of the fed since 2008 and the market is now absorbing it. we had a hiccup in january but it looks like the market has adjusted to this, right? >> i think the market has of the market is robust. we saw that last year in rising interest rate environment. 1.8% to 3%. we're seeing again a wall of worries this year, the fed tapering what will happen with interest rates. we needed economy to get stronger. fundamentally we need the fed and stimulus to help and ultimately to lead to stronger economy. we're starting to see that. back to energy, it is going to remain strong and robust regardless of what is going on with the broader economy. we're just replacing domestic supply for foreign supply. and we're hedged, liz. we're not, u.s. dollars we're paying as u.s. dollars we're getting. so we're not worried about
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foreign currency pllying u.s. energy. liz: ah-ha. he doesn't have the same problems gap might have, david. david: thank you very much. larry, chris, we're going to see you back here in couple minutes when the s&p futures close. thanks very much, guys. liz: stocks soaring 121% in the last year and new milestone for this company, trip advisor. 150 million reviews. up next, we've got the ceo talking about expansion, future of travel and the current quarter. did the weather hit its bottom line or will it prove the stocks deserves such a massive rally? david: get this. what if you had the chance to win six months salary in order to lawn of your own business, but there's a catch, you have to pitch your business plan as these people did, to nascar driver danica patrick while riding alongside her at 125 miles per hour. that actually happened. five people did that we'll have
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liz: tivo getting quite a boost today as investors react very postively to the company as you fourth quarter result. david: let's head back to nicole petallides on floor of the new york stock exchange. tivo, that's a blast from the past. >> right. yet it i was still doing so great, we're watching it today up over 6%, 6.6% to be precise, closing at $13.68 a share. as far as quarterly numbers looking good, they reported better than expected, 20% rise in quarterly revenue and they also said they expect to benefit from the comcast-time warner deal because of their key cable customers. this is great news across the board for tivo, at least for now. over the last 52 weeks up just over 3%. so hasn't been a stellar performer but still in positive territory and today the shareholders are always happen
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to see a nice 6% rise. liz: when you can say the biggest merger in the cable world is positive for your business that is definitely a plus. nicole, thank you. >> sure. david: thanks, nicole. the s&p futures are closing for the first time after 1850 on the s&p. let's head back to chris gersch in the pits of the cme. are we holding on to these gains, chris, looking at tomorrow? >> we're not only holding on but gaining. we gained a three handle after the equity close. that to me mmans a trade, and market-on-close orders to the upside. this the is biggest conundrum, 10-year yield sinking, just 100 yards away. s&p gaining at all-time high. is s&p market all of sudden becoming a risk off? people are just flying to the u.s. as risk off as ukraine and dollar get stronger? david: all right. good news looking to tomorrow. chris gersch, thank you very much. liz: trip advisor has just become the first travel site to offer consumers 150 million
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reviews and opinions. what is the cedrate to its success? what is the company's plan to say competitive in increasingly, i guess you could say brutally commetitive travel industry. joining us now, we have trip advisor ceo and president. how did we get here, steve? this is amazing, it has been like they say, long strange trip certainly. reach back to the early days of trip advisor well before you were public and how you had this vision and if you ever thought you would reach 150 million. >> i have to say it is amazing at 150 million because we have some users from all around the globe coming for the same reason that the very first users came which was, they wanted to get the real scoop on how to have a great time on their vacation. and one by one the reviews came in until 150 million. and now with a couple hundred million people visiting the site every month, it is more and more people getting more and more great information from their
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fellow travelers to have the trip. they have a great trip. of course they want to come back and write another review for us. liz: exactly. but 150 million users per month, something is growing right here. we looked at site and picked it apart. describe your audience if you could, steve? are they international, united states centric? break it down. >> so a majority of our traffic does come from outside of the u.s. they're traveling to all parts of globe. we have over 100,000 different destination that is people will travel to represented on trip advisor in dozens of different languages. so it is really a very global phenomenon that works just as well if you want to go, if you're an american wanting to go to vegas or you live in thailand and you want to go anywhere around the world. liz: describe your hottest searches right now. i know you probably picked through this to see where people want to go. there always seems to be the next hot place. one year it was namibia. the next year, old-style vegas.
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where are people wanting to go these days? >> well i wouldn't call it a little secret but certainly the most commonplaces don't actually change year to year. people love going to vegas, to london, to order, to new york city of course. so many popular destinations remain pop bar year in, year out -- popular. what is stunning when i look at our traffic not so much the one spot out of the way coming up but the fact that people are traveling much more and they're going off the beaten track, literally to thousand, tens of thousands of different places. international travel on the up swing. so we're becoming much more of a global community and that is wonderful to see. liz: you can't discount the impact of mobile then in all of that. how have you harnessed the power of mobile? and do you foresee a tipping point where just about everybody who uses trip advisor will be on mobile? >> i would say there is awful lot of people using trip visor this very moment on mobile. why? because of that convenience factor. so we're offering you a
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replacement for that clunky guide pock or that -- book, ask the person on corner of the street, what do i do next? next you open up trip advisor on your phone. hit, near me now. get a great restaurant recommendation literally right next to where you're standing. next best thing to do if traveling with kids. see advice from your friend, all on the phone no matter where you are. all you need is that -- liz: when we talk about travel, steve, right now lately we have to talk about the weather. how will the weather affect your bottom line? i know you probably want to be careful how you phrase it but go for it. your stock has jumped 120% year-over-year. do we see those kind of gains or will they be crimped about some news about weather? >> as we like to joke internally, there is weather all around the globe and because we're such a global company, because we have travelers coming from literally every country around the fact that there is massive storms here on the east
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coast, yeah, that's one relatively temporary blip. so we tend to look to have a much longer term perspective and weather doesn't actually factor in too much to our overall growth. liz: because you're everywhere. congratulations on a new milestone, steve. >> thank you solve. >> to you and the team over at trip advisor. ticker symbol trip, how appropriate, david. david: i never want ad vacation more than i want it now. that is what the weather does for me, make me want it more than ever. house ways and means committee chairman dave camp has a new tax plan that radically simplifies our i am possibly complex tax code and on fire from both sides of the aisle. lawyers don't like it. accountants don't like it. does it stand any kind of a chance? rich edson sitting down with the chairman to get answers on simplified tax plan. you don't want to miss this. speaking about money, you have enough money saved for retirement and putting it off because of great recession?
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liz: time for a quick speed read, some of the day's other headlines, five stories one minute. wells fargo slashing 700 more mortgage jobs. the bank cut 6900 mortgage jobs since july. google slowly taking over the california city of mountainview. the internet giant owns more than 10% of the real estate there and only getting bigger. after topping one billion shipments for the first time ever the smartphone maker is expected to cool this year. the research group idc
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forecasting smartphone shipments will keep slowing through 2018. lego sales jumped 10% in 2013. the world's second largest toy-maker hoping the blockbuster hit, "the lego movie", which led u.s. market for three years will help boost business this year. mcdonald's has a build your own burger test. they give them tablets to select bun, patty, cheese, burger toppings, all that. like naked burger. that is today's "speed read." [buzzer] david: naked burger? liz: i'm sorry called fair burger. david: has your 401(k) been some kind of holding spot for your cash, or do you actively manage it to maximize your retirement income? according to one of "barron's" top 100 financial advisors millions of americans are losing out by not managing more closely their 401 confidents. he wants to change that.
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joining us scott hanson, hanson mclain group founding principle and senior partner. good to have you on, scott. >> good to be here. david: i'm closer to end than the beginning but spending a lot of time thinking about 401(k)s. you deal with self-brokerage 401(k) accounts, i have to admit i didn't know what that was. explain what that is before we -- >> 401(k) is the nation's largest most neglected financial asset. 90% of the participants when they put money in 401(k) don't do any allocations throughout the year. fortunately we've seen what is called a self-directed brokerage account. this is something the employer puts in place where employee, instead of using core options already there, the ones they prescreen and employee opt out of that use a brokerage account attached to the 401(k). david: before we go further, scott, not everybody is entitled to do this, correct? >> that's correct. actually about five years ago, less than 20% of employers
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provided it. today almost half of employers provide it. this is something we're clearly seeing a wave. unfortunately the bad part is, most people are not taking advantage of it. less than 2% utilization rate. david: how do i find out, first of all, if i'm entitled to do this? >> well you just look really, go to our 401(k) web site, see if that is option. if not call the human resources department. if it is something you want, say this is something i like to have as part of my 401(k). certainly gives you more options than the core they select for you. david: if i have that option now, beside watching fbn every day and particularly this program, i could also reach out to someone like you. what do you do for people who want to manage their accounts more carefully? >> well here is what i think. i think most people manage their 401(k) in vacuum, right? they have money there. is that a lot of money? is that a little money? how much can this provide at retirement? really key to work with someone as financial advisor helping to
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prepare for retirement. not just as retirement time to role it into ira or something, but work with someone along the journey and manage 401(k) with everything else going on in the financial life. how do we get the home paid off and kid through school? all the other financial issues, look from retirement planning and financial planning standpoint. allocate dollars within the 401(k) with all these things in mind. that is the kind of service we provide and hopefully -- david: you work for a fee. we want to get the money out of the way. you work for a specific fee rather than a percent of profits. how do you calculate fees? >> well we technically, typically work for about a one percent of assets which is norm for advisors. fees if you're concerned, avoid people like us, guys with suits. there is cost involved. some can benefit from relationship with quality advisor. there is fee involved obviously. costs something. but the problem i'm seeing 401(k) plans, they're set up for employer. employer sets them up because
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they have to be competent activity. they control the experience. they control the environment. the employee, if they want to use ira or something else, don't get the same tax deduction so they're forced to stick to the employer model. i would love to see day here is open architecture, call it whatever you want, anybody at any employer, if you have 401(k), hire any advisor you like where the advisor manage the dollars for you. that would be a great way to go. we have retirement crisis looming, if you look at baby boomers they're woefully underprepared. if they had financial advice today, it would kept get them to retirement. david: i shifted 401(k)s various times. of the one year close to the time of the financial melt down i did it several times. i did it so often i got a call from fidelity saying hey, you can't do this. i got really, nasty threatening letter. was that, can they still do that? can they still limit amount of changes that we make in any course of time? >> oh, it is really up to the employer. they set the ground rules. can say only do x-trades per
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year and you're stuck with that. most people are not educated as bright as you might have been. i assume you make brilliant choices. david: i held my own. i didn't lose any. >> they are the ones set ground rules up. it is crazy system. not like a bunch of policymakers said how do we deal with retirement? let's create this 401(k). it was part of legislation in late '70s, slipped in the back level. blow this thing out. i see opportunity. now it is largest retirement plan for vast majority of americans. david: absolutely. they are finally expanding the opportunities for people in it. again, a self-brokerage 401(k) account, that is what you want to look for. scott hanson will help you out if you want to pay the fee. thank you very much. appreciate it. >> good being here. david: thanks for coming in. liz: david, we can't promise it will come through but tax reform is on the front burner of capitol hill. dave camp releasing his new tax overhaul plan. could have big impact on your
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wallet. rich edson talked to representative camp. that is coming up next. stay tuned. david: look forward to that. if you thought pitching a business model is difficult in a boardroom? how about right here sitting next to danica patrick in her car traveling at 125 miles-an-hour? we have more of this extraordinary video and danica herself is here to tell us if anybody won her ear. liz: it is fox business exclusive. you can't miss this. ♪
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liz: representative dave camp released his sweeping tax overhaul plan and while it does call for lower tax rates for all, it suggests paring back tax breaks for individuals and businesses. >> the reduction in tax breaks have all the special interests screaming foul as you can imagine. rich edson from capitol hill with representative dave camp. rich? >> well, david and liz, three years in the making. chairman dave camp is finally released his tax overhaul proposal. chairman camp thanks so much for joining us. >> great to be with you, thanks. >> i'm sure you've seen all the statement that have come out. many have been positive. many when you break down awe along special interest groups, have criticized. you talk about curbing number of different deductions. doing so in election year.
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not doing so with democrat to unveil it with. politically, is that crazy? >> look i don't think we should settle for economy growing 2% and kids are moving home because they can't get a job to get out on their own or start independent careers and median incomes are declining where they are now. this is attempt to get pro-growth tax reform that reforms tax policy and uses those dollars to lower rates. what we do is collapse seven individual rates into two, high rate of 25%. we have a corporate rate, which was the lowest in the world in the '80s. now it is highest in the world. we bring that down to 25%. if we do that we actually grow the economy by 20%. create almost 2 million jobs. and increased median incomes by $1300 a year. i think that is worth it. there are clearly tradeoffs with that. you know, big things are not easy to do. but i think american people sent us, me and others here to try to make our country better to do things. you know, when i travel the country, people not only things
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are not good, they don't things are going to get better. we need to make sure we restore the american dream so people have a sense of hope and opportunity for themselves and their family. that is what the tax reform plan is all about. >> you were working with senate finance committee chairman max baucus who has been sent to china, u.s. ammambassador to china. how much does him leaving, does the president in a way kill chances of tax reform send your top democratic partner overseas? >> looks, things change in politics. i have a lot of respect for senator baucus but has a new responsibility. i know senator ron wyden from being in the house. he introduced compromise tax reform bills in two previous congresses and done that with republican senator. theee is some similarities what he tried to put forward and what i'm trying to do. i think there is going to be a strong basis for a good working relationship. >> have you started discussions with him? >> i talked to him several times. he is aware of what i'm trying to do.
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he just become chairman. i look to work with him even more when we work forward. >> speaker called this beginning of a conversation. you see the way i it is billed in number of different outlets. call this the republican tax reform plan. is this republican tax reform plan. >> look, there is a lot of bipartisan ideas in the plan. research and development tax credit is something i and congressman sandy levin worked on for years. many tax provisions get introduced. reforms get introduced by a republican and a democrat. there is lot of bipartisan issue @n this bill. but look, somebody had to take the bull by the horns to start working on a draft. this is draft, discussion draft. it is about getting people focused on how can we have a better economy? how can we grow jobs in how can we have higher incomes? look, people i talk to aren't satisfied with the way things are. they want to see us move forward on bills and issues that will actually make things better. so we got a start. this is a start. i think it is in great detail because then we can actually get
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the kind of analysis that says, you know, these tradeoffs are worth it. yes, some particular group doesn't like what we're doing because it's a chain. you know, overall this will be better for the country because it will grow the economy and create jobs. look, we get to 99% of taxpayers at 25%. and when i was in school, 99% was an a. >> this is three years in the making. you finally dropped this proposal. what happens next year? do you see this through? do you want to stay in congress? would you think about another chairmanship, leadership, retirement? what is next for the chairman? >> look in the house you get a two-year term. so you really have to be present in the moment you have. if you start thinking about future terms you really don't do the job. i've been given a job and responsibility to chair the ways and means committee. i think on behalf of people that sent me to washington and behalf of the people in michigan and the country i have an obligation to put everything in this job while i can.
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i'm so focus trying to move the country forward with comprehensive tax reform, grows the economy and brings jobs and creates higher wages. >> chairman dave camp. david and liz, back to you. david: rich, if i could just impose to ask a question of my own. all americans want a simplified tax code. all americans. camp's plan, simpson-bowles, talked about reducing overall rates yet we never get it. i assume because of all the lobbyists that, like a more complex tax code becauseethey get their special interests in. how, does the congressman think there will ever, that will ever change, that we'll ever get rid of lobbyists that stand in the way of what all americans want? >> well, chairman, david asman just asked, very in a very frustrate the manner, it seems as though we have tax reform proposes come up year after year and he says all the lobbyists tend to kill it. when will we get tax reform?
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when will this happen? when will it change? >> we haven't had a detailepropg time. i think one of the reasons it was so important to do a comprehensive, detailed bill because it actually shows and you can get the analysis, we never had, what we call a dynamic analysis that shows economic growth, job creation, wages, increasing. so that's why it was important to do this i think as people have a chance to take a look at this and evaluate, you know are the tradeoffs worth it? is it better to have a simpler tax code where 95% of taxpayers don't itemize? is it better to have a tax code that actually grows economy or creates jobs? or is it better to have all the provisions just the way they are. most of the people i talk to outside of washington don't want things just the way they are. look, i understand it is easy to take one provision and say, this is really good, it is really valid, really helps a particular industry or group of peep but we have to look at overall item. what is the overall code doing? 4,000 changes in the last decade.
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one per day. it's a wet blanket on the economy. wet blanket on small business. wet blanket on big business. we can't compete internationally. there are lots of things we need to change and fix. this is the opportunity to do that. this is a proposal. now people can't say, what would comprehensive tax reform look like? we have a lot of general discussion on how good tax reform would be. let's get into specifics. this is the debate the country needs to have and i look forward to engage in it. >> thank you very much. liz and david. liz: put up the fence and keep lobbyists out. david: dick tear toreship, that is what we all want, dictatorship of the lobbyists. we have to stop that. the drought that is gripping california is not just taking a heavy toll on the state's residents, it is impacting produce prices all over the country. liz: five entrepreneurs giving the chance of a lifetime to ditch their day jobs and pursue their real small business dreams. first they have to grab nascar
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driver danica patrick's attention while driving at 125 miles per hour. we have dan can pat here to talk about godaddy's new campaign. it's a fox business exclusive. ♪ life's an adventure wh you're with her.
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david: i hope you saw this during this year's super bowl, pup met master gwen dean quit
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her job in a godaddy commercial to break out on her own and follow her small business dream. now the company has found extremely unusual way to give another budding on on the a chance. liz: this is so creative. contestants pitched their ideas to nascar driver danica patrick while riding shotgun at 125 miles per hour. watch. >> are you ready? >> yes. >> okay. we, this is fast. okay, so we're starting a benevolent new company where we met some artisans, food makers been doing it for generations in guatemala. liz: that was kenny, pitching a food company. there were four others. who got danica's attention. joining news fox business exclusive. nascar driver danica patrick this is hilariouses as we watched all of these clips, dan can, and we're thrilled to have you in exclusive interview, we
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watched them, this is fast. they got a little plusserred and nervous of the how interesting was it for you to listen to their pitches? >> it was, it was very interesting. it was, i was just trying to come up with good questions to ask them to really, you know, put them on the spot see if they can handle the pressure thinking while there was a lot of other stuff going on. but some of them were pretty smart. they realized that their best way of paying attention to what they needed to say and me was to not look at the road, so, whenever they looked at road, especially the wall, because i tried to get really close to it, that seem toddies track them a little bit. so it was a effective. and i was always trying to press them on time let them know they're running out of time but they did pretty good actually. david: daaica, godaddy itself is an american success story. my good buddy, bob parsons started it. he is the american dream in many ways. did he have anything to do with this idea, with the creation of
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this idea? >> well i think everything does go back to bob and that he created this company that is so huge and has done so much, so much good and especially with the focus being on small businesses. every business essentially starts small and, so i really think it goes back to the core of all that and what he stood for, which of all things, dreaming big and shooting for the stars and taking a chance. so that's why the big leap is really cool. i feel like it really represents the great qualities about godaddy and also, just you know, follow your dreams and great things can happen. that they support all of those who do and, you know, whether it be, you know as a company what they stand for or whether it be literally having all the tools and technology it takes to become a success story. liz: so you narrowed down among all of the submissions down it five. we saw kenny. there were others.
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there is ann who wants to pitch a friendly monster toy company. adrian has julie and accessories. jamie had a barbecue company. kyle had a app. the winner, talk about how that will be chosen and involvement and it says about starting small businesses from godaddy's point of view? >> the voting on godaddy.com goes until the last lap of the race at phoenix this weekend which is the home of go daddy. i'm going to tweet myself the winner an hour after the race. so, at danica patrick. that is how you figure out who won it. liz: everybody watching right now can go on to see the pitches and make their own ddcisions at godaddy. as we talk about small business, finalists let them quit their jobs and pay them a salary to start these business. what do you think is interesting and fascinating about that? some small business owners are watching right now didn't have that luxury?
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>> that's true. and that's what, that's what is great about godaddy's, they support them so much. they give them six months salary to whoever the winner is to go get that head start. more than anything really to say look, we have the tools and if you really have a great idea you believe in it and you stand behind it, take that chance and we've got everything that you could possibly need to help you make that all happen and come true. whether it is getting found online with that company or whether it would be with simple website, domain nnmes. all those tools, they have them all. so hopefully it encourages other people to follow their dreams. i mean, at least if you have a bad day you're doing something you llke. david: danica i have to ask you, i know you can't say who your favorites are if you have a particular favorite but i was reading some of the stories, back stories of these people. adrian hubbard takes care of a five-month old managing a shipping company. of new online store.ht thinking
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these stories must have been >> absolutely.to you, no? all these people, i think what's great is that they have a dream. and that is what i always tell people, what is your dream, if you could do anything in the world what would that be? these people think like that. to hear where they came from, -@and other things they do and f course, what their real passion is, is, it is inspiring to everybody. david: yeah. it is american dream. we love it. danica, thank you so much. liz: that's why we're here. >> thank you. liz: she bet on godaddy in the beginning. david: she sure did and bob parsons bet on her as well. liz: the most productive agricultural region in the entire nation but severe drought has parched california farmland, crippling ranchers and their livestock. we go live to one beleaguered ranch on why consumers and investors should pay attention even as rains come [ male announcer ] at his current pace,
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bob will retire when he's 153, which would be fine if bob were vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave h a fresh perspective on h portfolio. and with some planning and effort, hopefully bob can retire at more appropriate age. it's notocket science. it's just common sense. fr td ameritrade. if you have a buness idea, we have a peonalized legal solution that's rightor you. with easy step-by-step guidance, we're here to help you turn your dream into aeali. art your bess today with legom.
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liz: the drought that is plaguing california may soon have the rest of the country seeking relief the driest year on record could news supermarkets nationwide to raise produce prices. david: robert gray is live at a ranch in california. robert. >> dave and liz, expect more to pay more for beef and more very
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soon, much more for it. cattle futures in chicago jump to record highs. prices are rising by some 10% already. expect to pay more as shortage of cattle, this drought exacerbating a from prior droughts and 1 1/2 billion dollars of lost wages in the state here thanks to the drought. we're joined by frank inhofe at his ranch. thanks for hosting us here, frank. tell us how you are coping with the drought. >> well with the lack of water for the last four or five months we have to start selling off our cars. we have a choice or buy hay or sell cows. we bought three or four loads of hay. we have gotten rid of 20% of our cattle herd and looking next month another 20%. >> what we're looking at, for the short term an increase in supply but ultimately there will be a big drop-off. that is why prices are spiking even as more supply is coming to market here. what do you see if we don't get rain soon, what is your fall back plan and how much rain do we really need to get?
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>> we need a lot more rain. so norm smallly we're at 17 1/2 inches. so far we're 3 1/2. the fallback plan to be sell more cows. that would put a person out of business. the choice is, by more hay or sell cows. i think at this point we're on verge of selling more cows. >> just quickly, what would be the solution that you and cattleman talk about what that you would ike to see implemented? >> governor stated he would give us more money and we need to build dams. water will be a problem here in california with lack of snow, lack of water, the people, the 7 1/2 million people live here in the bay area will need drinking water. us, the farmers are probably going to lose. and other farmers are losing in the valley also. >> frank inhofe says they need rain an very soon, guys. only half an inch came with the storm. they're hoping for more next couple days. back to you. david: robert, thank you very much. it could affect prices all over the country. it already has.
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the feed has to be given to the cows. that is in some, feed has grown in dry counties as well. liz: that will do t for us. gerri willis such next with the "willis report." we'll be right back here tomorrow. we hope you will join us. we hope you will join us. david: we'll see you then
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in the new new york, we don't back down. we hope you will join us. david: we'll see you then we only know one direction: up so we're up early. up late. thinking up game-changing ideas, like this: dozens otax free zones across new york state. move here. expand here. or start a new business here... and pay no taxes for 10 years. with new jobs, new opportunities and a new tax free pn. there's on one way for your binesto go. up. find out if your business can qualify at start-upny.com for the proven relief raof the purple pill. and that relief could be in your hand. for many, nexium helps relieve heartburn symptoms from acid reflux disease. find out h you can save at purplepill.com. there is risk of bone fracture and low magnesium vels. side effects may incle headache,
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abdominal pain, and dirhea if you have persistent diarrhea, contact your doctor right away. other serious stomach conditions may exi. avoid if you tclopidogrel. for many, relief is at hand. ask your doctor abouxium. gerri: hello, everybody, i'm gerri willis. right now on "the willis report", eat this, not that. nutrition labels get the first of ever makeover. will it change the way americans eat? also a big win for drivers. cities put the brakes on red light cameras. fast-food wars, we put the new breakfast menus to the test. we're watching out for you on "the willis report." gerri: nutrition labels are getting a makeover for the first time in 20 years. the fda is touting

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